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October 10. 2002

Huron Capital Partners Commits $20 Million to Acquire 3 Companies

Detroit, MI – October 10, 2002 // Huron Capital Partners LLC, a Michigan-based private equity firm, announced today that it completed the acquisition of 3 companies in the third quarter, committing $20 million in equity capital. This latest series of acquisitions caps a run of 8 acquisitions over the past two years at Huron Capital. According to Brian Demkowicz, Managing Partner of Huron Capital, “You certainly have to work harder and dig deeper in this market, but there are definitely high quality acquisition opportunities available for disciplined, value-oriented investors. We believe this is a good time to buy and have not wavered from our stringent investment criteria, enabling us to selectively build a strong portfolio of companies.”

Huron’s latest acquisition is York Tape & Label, Inc. York is a premier supplier of high-end pressure sensitive label solutions, operating one of the largest flexographic label printing facilities in North America. York serves a blue chip customer base in a diverse range of end-use markets, including food, health & beauty aids, security, beverage, and pharmaceuticals. Huron partnered with the Company’s management team to acquire the Pennsylvania-based company. Comerica Bank provided the senior debt while RBC Capital and Midwest Mezzanine provided subordinated debt and preferred stock.

According to York Label CEO Tim Hare, “The timeframe was very tight, and Huron stepped in and closed the deal in 60 days. With the significant capital resources and strong operational support that Huron provides, we will be well positioned to take advantage of tremendous growth opportunities we see in our industry.” Peter Mogk, a Partner at Huron, added, “The York transaction was right in our sweet spot. The Company is a leading player in the label industry with a great management team and strong market demand for their products.”

Also during the quarter, Huron acquired two additional companies in the post-secondary education industry, McCann Education Centers, Inc. and The Creative Circus, Inc. McCann is a Pennsylvania-based vocational school with three campuses focused on healthcare, business and information technology. The Creative Circus is an Atlanta-based advertising vocational school offering certificate programs in the areas of design, illustration, copywriting, art direction, image and e-design. Both companies will be operated under Huron’s education platform company, Delta Educational Systems, Inc., which Huron recapitalized with management in December 2001. Merrill Lynch Capital provided senior debt for the recent transactions. Through increased enrollments and an aggressive acquisition strategy, Huron has more than doubled the size of Delta in less than one year.

Other Huron-sponsored acquisitions within the past year include Stylecraft Lamps, Inc., where Huron led a management buyout of the Company last October. Key Bank provided senior debt while Prairie Capital provided mezzanine debt for the transaction.

Huron Capital Partners invests in acquisitions and recapitalizations of growing middle-market companies having revenues between $10 million and $100 million. Huron Capital’s strategy is to partner with strong management teams in acquiring niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth.